Nifty Below 23,050; HDFC Bank & Axis Bank Top Losers

Asian markets traded mixed on Monday, with Japan's Nikkei 225 and South Korea's Kospi falling more than 2% as technology stocks came under pressure.

US equity futures edged higher on Friday, with Nasdaq-100 futures up 0.4%, S&P 500 futures gaining 0.2% and Dow Jones Industrial Average futures rising 110 points, or 0.2%.

Here's a table showing how US stocks performed on Friday:

Source: Equitymaster

At present, the BSE Sensex is trading 380 points lower, and NSE Nifty is trading 117 points lower.

SBI, TCS, Bharti Airtel are the top gainers today.

Axis Bank, HDFC Bank, Infosys on the other hand is among the top losers today.

The BSE 150 Midcap index is trading higher and the BSE 250 SmallCap index is trading 0.3% lower.

Sectoral indices are trading mixed today with stocks in PSU Bank sector and telecommunication sector witnesses selling pressure. Meanwhile, stocks in insurance sector and IT sector witnessed selling pressure.

The rupee is trading at Rs 94.8 against the US dollar.

HDFC Bank Q2 FY27 Results

Shares of HDFC Bank came into focus after the company reported its Q2 FY27 results.

HDFC Bank reported a 4.7% year-on-year increase in standalone net profit to Rs 195.10 billion (bn) for the second quarter of FY27, broadly in line with market expectations.

Net interest income (NII) rose 9.7% year-on-year to Rs 346.19 bn, while asset quality improved both sequentially and year-on-year.

The bank's net interest margin (NIM) on total assets stood at 3.16%, down from 3.26% in the previous quarter. NIM on interest-earning assets for the July-September quarter was 3.32%.

HDFC Bank's gross non-performing asset (GNPA) ratio improved to 1.11% as of September 30, 2026, compared with 1.17% in the preceding quarter and 1.24% a year earlier. Excluding non-performing assets in the agricultural segment, the GNPA ratio stood at 0.87%, down from 0.91% in June 2026 and 0.99% in September 2025.

Gross non-performing assets stood at Rs 358.10 bn at the end of September, marginally lower than Rs 358.46 bn in the preceding quarter. Net non-performing assets declined 4.1% sequentially to Rs 118.51 bn from Rs 123.57 bn in the previous quarter.

Axis Bank Q2 FY27 Results

Axis Bank reported a 37.6% year-on-year increase in net profit to Rs 70.03 bn for the second quarter of FY27, falling short of market expectations. Net interest income (NII) rose 11.8% year-on-year to Rs 153.71 bn.

The bank's net interest margin (NIM) stood at 3.36% for the July-September quarter. Excluding the impact of foreign currency non-resident (FCNR-B) deposits, NIM was 3.47%. The bank raised Rs 1,018 bn under the FCNR (B) scheme, including Rs 438 bn backed by advances from its international branches and Rs 449 bn backed by standby letters of credit.

Operating profit increased 6% year-on-year to Rs 110.83 bn, while core operating profit rose 11% to Rs 109.98 bn. Other income declined 1% to Rs 65.31 bn, although fee income grew 6% to Rs 63.81 bn. Retail fees increased 7% sequentially and 4% year-on-year, accounting for 70% of the bank's total fee income. Corporate and commercial banking fees together grew 10% year-on-year to Rs 19.43 bn.

Asset quality improved, with the gross non-performing asset (GNPA) ratio declining to 1.16% from 1.46% a year earlier and 1.28% in the preceding quarter. The net NPA ratio fell to 0.35% from 0.44% a year earlier and 0.39% in the April-June quarter.